Full Exemption from Income Tax KSUM Startup Fuselage

KOCHI:
KSUM-incubating deep-tech company Fuselage Innovations has won an income-tax exemption announced by the Union government for startups, thus joining a country-wide club of 187 such nascent firms.

Fuselage received the exemption certificate, under Section 80-IAC of the Income Tax Department, from the Department for Promotion of Industry and Internal Trade.

The honour comes as a follow-up to 2025-26 Budget that announced 100 per cent I-T exemption for three consecutive years to startups operational for less than ten years. The idea was to allow high-performing startups to be relieved of tax headaches and spend more on initial activities.

Fuselage MD Devan Chandrasekaran said the achievement will add to the company’s aim for a rapid growth. “We see this as a recognition of our financial discipline and production excellence. It will help us take another step towards the goal of making technology, including agricultural services, available to the common man at low costs,” he added.

Fuselage equipment is currently being provided at a subsidy rate of 40 to 80 per cent for precision agriculture, educational purposes and training institutions. The 2020-founded company is involved in value-added activities in defense projects of the Cochin Shipyard and the Navy’s research wings such as NSTL Visakhapatnam and NPOL Kochi.

KSUM (Kerala Startup Mission) is the state government’s nodal agency established in 2006 for entrepreneurship development and incubation activities.